Convert the modules power consumption to watts
convert the cells capacity to watt-hours
then you can figure it out.
The unknown variable I don't know, is whether gene tested his module at 750mA at 6V from a bench power supply, or from a pair of CR123s, this makes a slight difference in the results but I'm not going to get into that now...
Lets assume a constant 4.5W of consumption when the module is in regulation for comparison purposes.
this link:
http://www.candlepowerforums.com/vb/showthread.php?t=67078
shows some common discharge characteristics of CR123s, and we can make some estimates from this.
We know that a M60 draws ~750mA when you have 6V power supply, so if you had 3 CR123s in series, you would have more voltage, and less current draw (same 4.5W in the end). So the Performance of 3xCR123s driving an M60 should correlate to the 0.5A discharge chart semi-accurately. For comparisons sake, I'm going to go on the bet that you choose some good quality cells, and give the average CR123 a capacity value of 3.75 watt-hours per cell for this comparison.
This link:
http://www.candlepowerforums.com/vb/showthread.php?t=117117
shows some discharge characteristics of various size li-ion cells.
So lets assign some values to various size li-ion cells... now, keep in mind, most of these tests were performed at 1 amp or greater, this is a problem because we know that the malkoff M60, when powered by a ~7.4V source, will probably be drawing much less than 1 amp, probably closer to 600mA (guessing!). So we need to try to extrapolate some values that make sense. I'll do the pleasure:
1. 17500: 4.3 watt-hours
2. 18500: 5.1 watt-hours
3. 18650: 8.2 watt-hours
So now we need to add up the total available power in each configuration:
1. 3xCR123: 11.25 w/h
2. 2x17500: 8.6 w/h
3. 2x18500: 10.2 w/h
4. 18650 16.4w w/h
These are all educated guesses that will vary depending no many factors and what cells are chosen. but:
Based on these very rough numbers, I would say the comparison is as follows:
1. 3xCR123s: 2:30
2. 2x17500: 1:55
3. 2x18500: 2:16
4. 2x18650: 3:39
Eric